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Article Excerpt
M2 PRESSWIRE-14 July 2008-InvestSource Inc.: ActionView International, Inc. Discusses Planned Acquisition with Jim Palmer Trucking, Inc.(C)1994-2008 M2 COMMUNICATIONS LTD
RDATE:14072008
Stocks in the News: ActionView International, Inc. (OTCBB: AVWI), Harley-Davidson Inc. (NYSE: HOG), Toyota Motor Corp. (NYSE: TM), Oshkosh Corporation (NYSE: OSK)
Jul 11, 2008 -- ActionView International, Inc. (OTCBB: AVWI) today issued a comment regarding the recent filing of Chapter 11 bankruptcy protection by Jim Palmer Equipment Inc. and Jim Palmer Equipment II, LLC, entities related to Jim Palmer Trucking, Inc. In May 2008, ActionView announced a letter of intent to acquire Jim Palmer Trucking to become the focus of operations for the public company. The Chapter 11 bankruptcy cases, which were filed in the United States Bankruptcy Court, District of Montana on July 10, 2008, permit reorganization of the companies' contractual and debt obligations under the bankruptcy laws of the United States. It has been reported that Jim Palmer Trucking, Inc. will also file for Chapter 11 bankruptcy protection. ActionView International CEO Steven R. Peacock commented, "The financial information we received in our early due diligence on Jim Palmer Trucking does not appear to be consistent with their true financial condition at that time. We have been in communication with both the company and its representatives and will continue to monitor the situation as it develops, especially as it relates to the capital that was loaned to Jim Palmer Trucking as part of the proposed acquisition transaction with ActionView International. As we work to protect the interests of the company and its shareholders related to the...
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